SunSirs: The Demand for Formic Acid was Weak, and the Price Fluctuated Weakly
July 02 2025 15:10:00 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the price of formic acid remained weak and volatile recently. As of July 1st, the benchmark price of formic acid in SunSirs was 2,400 RMB/ton, a decrease of 4% from 2,500 RMB/ton at the beginning of the month and a decrease of 18.64% from 2,950 RMB/ton at the beginning of the month.
Analysis review
The stable operation of production facilities and the increase in market supply, coupled with the off-season of downstream consumption and weak demand, led to high inventory levels and no upward momentum for formic acid.
From an upstream perspective, there was expected room for a decrease in imported methanol. Under the rise in methanol market prices, downstream industries saw an increase in production costs, which suppressed downstream demand and production under the situation of losses. As a result, the domestic methanol spot market stabilized at a high level. The partial maintenance of the raw material liquid ammonia unit had not yet resumed, and the supply pressure had slightly eased. As of June 30th, the mainstream price of liquid ammonia in Shandong region was 2,300-2,450 RMB/ton.
Market outlook
The formic acid data analyst from SunSirs believes that the supply and demand of formic acid were weak. Although the raw material side provided some support, the upward momentum was insufficient, and it will continue to operate weakly in the short term. Specific market changes need to be monitored.
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- 2025-06-10 SunSirs: Formic Acid is Currently basically Maintained for Rigid Demand Purchases
- 2025-06-06 SunSirs: Both Demand and Supply are Weak, Formic Acid has no Upward Momentum
- 2025-05-28 SunSirs: Sales Volume Restricted, Domestic Price of Formic Acid Rebounds Slightly
